DBX DROPBOX, INC.
Price Chart
Executive Summary
Six insiders at Dropbox (including CEO Andrew Houston) sold a total of ~$1.45M in shares within a 5-day window, mostly at $25.96-$27.28. The CEO's $974K sale came after converting derivative shares at $0 cost basis. Tax-withholding surrenders (A/F) on 5/15 for CTO, CLO, CAO, and two other executives added $1.92M in non-cash dispositions but do not carry signaling weight. The cluster follows a Q1 earnings report where revenue grew only 0.8% YoY, GAAP net income fell 24%, and paying users contracted — suggesting insiders may be taking chips off the table after a period of heavy share repurchases ($366.8M) that inflated EPS.
Key Financial Metrics
Actionable Insight
Despite the low proportional value (0.02% of market cap), the CEO's sale immediately after derivative conversion is a notable negative signal given Q1's contracting user base and flat revenue. The broad C-suite/director selling across 5 days adds weight. Watch for post-earnings drift and any guidance revision next quarter — revenue growth stagnation combined with insider selling is a caution flag for the stock.
Key Facts
- CEO Andrew Houston sold 37,498 shares for ~$974K on 5/14 after converting derivatives at zero cost
- Total open-market sales: ~$1.45M across 6 insiders (CEO, CLO, CTO, 3 directors)
- Tax-withholding surrenders on 5/15 totaled ~$1.92M across 5 executives (non-cash, $0 to the insider)
- Open-market sales represent ~0.02% of DBX's $6.4B market cap — below the 0.1% triviality threshold
- Q1 2026 revenue grew just 0.8% YoY to $629.5M; GAAP net income fell 24%; paying users declined to 18.09M
Financial Impact
Open-market sales of ~$1.45M — less than 0.1% of market cap; non-cash tax withholding shuffles of $1.92M add no economic selling pressure
Risk Factors
- Revenue growth stagnation (0.8% YoY) combined with user declines signals maturation of the core file-syncing business
- CEO selling after holding period could be liquidity-driven, but timing right after earnings is unfavorable optics
- Heavy buyback program ($366.8M in Q1) is propping up EPS but adding leverage; sustainability questioned if cash flow falters
Market Snapshot
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-DBX-1779309069679 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
Jun 3, 2026
9d ago
|
Insider Cluster
| $27.18 $27.38 | ▲ +0.75% | ▲ +3.35% | $27.09 (−0.31%) |
|
Jun 1, 2026
12d ago
|
8-K
| $28.92 $28.16 | ▼ −2.63% | ▼ −2.77% | $27.09 (−6.32%) |
|
May 26, 2026
18d ago
|
8-K
| $26.46 $25.97 | ▼ −1.85% | ▼ −1.87% | $27.09 (+2.38%) |
|
May 20, 2026
23d ago
|
Insider Cluster
| $27.16 $27.51 | ▲ +1.29% | ▲ +0.84% | $27.09 (−0.25%) |
|
May 20, 2026
23d ago
|
Insider Cluster
| $27.16 $27.51 | ▲ +1.29% | ▲ +0.84% | $27.09 (−0.25%) |
|
May 20, 2026
23d ago
|
Insider Cluster
| $25.97 $26.19 | ▲ +0.84% | ▲ +0.29% | $27.09 (+4.32%) |
|
May 20, 2026
23d ago
|
Insider Cluster
| $27.16 $27.51 | ▼ −1.29% | ▼ −0.84% | $27.09 (+0.25%) |
|
May 20, 2026
23d ago
|
Insider Cluster
| $27.16 $27.51 | ▼ −1.29% | ▼ −0.84% | $27.09 (+0.25%) |
|
May 19, 2026
24d ago
|
Insider Cluster
| $27.53 $27.16 | ▼ −1.34% | ▼ −1.54% | $27.09 (−1.59%) |
|
May 19, 2026
24d ago
|
Insider Cluster
| $27.53 $27.16 | ▲ +1.34% | ▲ +1.54% | $27.09 (+1.59%) |
US Market Status
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